The first blockchain project to be developed from a scientific philosophy, and the only one to be designed and built by a global team of leading academics and engineers. Cardano (ADA) has been a success in cryptocurrency since its launch at the end of 2017. It has gained a spot in top 10 currencies in less than a year. Start of 2018 has been the best time for cardano reaching its highest price of $1.22, 0.00008412 BTC and market capitalization of $31.62 billion on 4th January.
According to the report by Initial Coin Offering (ICO) and research by Satis Group shows that Cardano (ADA) and Monero (XMR) would be the most valuable currencies in a span of next 10 years. It is predicted that in next five years cardano will reach to $10, so it really makes sense for the investor to invest in ADA at the time.
At the time of writing, cardano market cap is $2.7 billion, which shows that it has increased 6 times in a span of one year. The report predicts in five years span it would reach to market cap of $10 billion. The report emphasizes on the increase in Velocity of cardano. Velocity is the average number of times a coin/token changes hands, i.e. is traded, per year. We calculate it by dividing the annual trading volume with its price standardized to a 1-year period. Velocity can deliver important insight into activity levels in cryptoasset networks.
The report shows that cardano will reach to a price of $1.807, which is ten times more than the current price i.e $0.1. This shows a massive upside in the speculative velocity of cardano up to 1614%. Its economic velocity would increase up to 6224%, which shows that ADA price would reach to $6.667, which is sixteen times more than its current price of $0.1. The means that the total increase in its velocity would be about 4270%, which shows a total price target of $4.17.
ADA would be one of the largest currencies beating ethereum (ETH), despite that ETH is the second largest currency right know. The CEO of the company, Charles Hoskinson is working tirelessly and he has garthered a team who aims to be a great option for holding smart contracts, dApps, and ICOs, but also, the solution for some of the most outstanding issues of the second generation of cryptos.
Why is it predicted that cardano (ADA) would be skyrocketing in future? The report have based their prediction on the following factors; Strong team, Superior technology, Open-source platform. Cardano is more than just a cryptocurrency, however, it is a technological platform that will be capable of running financial applications currently used every day by individuals, organisations and governments all around the world. The platform is being constructed in layers, which gives the system the flexibility to be more easily maintained and allow for upgrades by way of soft forks. After the settlement layer that will run ADA is complete, a separate computing layer will be built to handle smart contracts, the digital legal agreements that will underpin future commerce and business. Cardano will also run decentralised applications, or dapps, services not controlled by any single party but instead operate on a blockchain.
Without any doubt, cardano is a competitor and we can all be sure that Hoskinson will work tirelessly in the seek of the best solutions for all of the issues that the crypto world faces now. He will come out with solutions which will lead cardano (ADA) to the top of cryto world.